M&T Bank Corp Sells 542 Shares of OneMain Holdings, Inc. (NYSE:OMF)

M&T Bank Corp lessened its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 4.4% in the third quarter, HoldingsChannel.com reports. The fund owned 11,709 shares of the financial services provider’s stock after selling 542 shares during the period. M&T Bank Corp’s holdings in OneMain were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in OneMain in the 2nd quarter worth approximately $377,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of OneMain by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,776 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 337 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in OneMain in the second quarter worth $203,000. Blue Trust Inc. increased its stake in OneMain by 43.4% in the second quarter. Blue Trust Inc. now owns 743 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 225 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in OneMain by 9.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 39,969 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 3,433 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

Shares of NYSE:OMF opened at $53.78 on Wednesday. The stock’s 50-day moving average is $52.43 and its 200 day moving average is $49.58. The company has a market cap of $6.42 billion, a PE ratio of 11.77, a P/E/G ratio of 0.69 and a beta of 1.56. OneMain Holdings, Inc. has a 1 year low of $41.70 and a 1 year high of $57.97.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $4.16 annualized dividend and a dividend yield of 7.74%. OneMain’s dividend payout ratio (DPR) is presently 91.03%.

Wall Street Analyst Weigh In

OMF has been the subject of a number of research reports. Compass Point upped their price objective on OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities lifted their price target on shares of OneMain from $60.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of OneMain in a research note on Wednesday, October 16th. Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $52.00 to $46.00 in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of OneMain from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.08.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $54.19, for a total transaction of $1,083,800.00. Following the transaction, the chief executive officer now owns 392,474 shares in the company, valued at approximately $21,268,166.06. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 886 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $50.00, for a total value of $44,300.00. Following the completion of the transaction, the chief operating officer now directly owns 104,739 shares of the company’s stock, valued at $5,236,950. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,778 shares of company stock worth $1,996,684 over the last quarter. 0.45% of the stock is owned by corporate insiders.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.